Colombia, a nation long associated with cocaine production, drug trafficking, and narco-violence, is endeavouring to become a leading global producer of legal cannabis. The 2015 introduction of legislation legalizing the production and sale of medical marijuana has sparked a veritable green rush, as companies push to take advantage of the equatorial nation’s considerable advantages when it comes to agricultural production.

It also sparked considerable hyperbole about the potential held by Colombia to become a leading global cultivator because of its climate, rich volcanic soils, and low operating costs. Despite these advantages, it appears that Colombia’s legal cannabis industry is overhyped, and the nascent boom could end abruptly.

Being the only developed jurisdiction to legalize the recreational consumption of cannabis has seen Canada become the global leader in cultivation, processing, and distribution of marijuana. This has been a boon for companies such as Canopy Growth (TSX:WEED)(NYSE:CGC), Aurora Cannabis, and Cronos Group, which have seen their stocks soar by 578%, 393%, and 1,074%, respectively, over the last two years.

ASX pot-stock, Creso Pharma (ASX:CPH) has announced its second piece of good news this week — its appointment of John Griese as chief operating officer for the Americas.

This comes at an auspicious time, with CPH furthering its expansion into the Americas.

In a much friendlier regulatory environment than the United States, new Canadian cannabis companies are already going international in a big way.

North of the border, cannabis was legalized nationwide in Canada, and the legal sale of cannabis is imminent, while in the United States a patchwork of state-level marijuana laws and a strongly anti-cannabis attorney general complicate business.

With an expected $22.6 billion market projected in Canada alone, Canadian companies already have a significant head start, and that could be just the beginning as they take their operations abroad.

Booming. Evolving. Complicated. Three words that aptly describe the Canadian cannabis market.

Redfund Capital is positioning itself to jump headfirst into that market, and beyond. 

The goal? To help solve one of the most significant obstacles faced by cannabis related businesses: accessing much-needed funds to succeed in a rapidly changing market.

The merchant bank, which will focus on the funding of companies operating in the cannabis sector, reversed into Parana Copper Corp, with the Canadian Stock Exchange (CSE) approving the company’s proposed change of business.

If illicit pot plants flourishing covertly in the Colombian countryside represent the marijuana industry’s past, then Canada’s commercial-scale medical licensing system represents its future.

PharmaCielo Ltd., a privately held medical marijuana producer with global ambitions, is hoping to capitalize on both those traditions.

The company, which has board members from U.S. big tobacco and big pharma, is headquartered in Canada — a decision made due to this country’s sophisticated medical cannabis regulations, friendly financial markets and growing base of accountants, lawyers and bankers with cannabis expertise.

Witnessing the incredible output of Colombian drug makers is a highlight of the Netflix series Narcos. It boggles the mind trying to fathom how much cocaine Pablo Escobar and rival crews carried across American borders. And when it comes to drugs America has long provided a captive and willing market... be they pharmaceuticals or illicit substances. 

In the Andean hills of Antioquia, Colombia, greenhouses covered with white tarpaulin sheets dot the countryside. For now they are all used for growing flowers — but the soil here is being prepared for a more contentious crop.

“The medical marijuana industry can become bigger than coffee, bigger than flowers,” said a smiling Patricio Stocker, chief executive of PharmaCielo, the first company licensed to roll out production of medical marijuana in Colombia. “Our aim is to help the most [troubled] regions in the country.”